CHINA EV COMPONENTS MARKET
Electric motors are a standard feature of electric cars for vehicle propulsion. These cars may be divided into plug-in hybrid electric vehicles and battery electric vehicles (BEV) (PHEV).
A battery-electric vehicle (BEV) is a zero-emission vehicle that only uses an electric traction motor and battery for power (ICE). An external power source can be used to plug the battery in and replenish it.
PHEV has two propulsion options: an internal combustion engine and a drive motor (ICE). The drive motor powers the car while the battery is high; when the battery is down, ICE powers it.
The market is being driven by escalating government programmes to embrace electric vehicles, escalating attention to enhancing the infrastructure for electric vehicle charging, and escalating desire for electrification of public transportation.
CHINA EV COMPONENTS MARKET SIZE AND FORECAST
The China EV Components Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
Borgwarner opens a new EV and HEV component manufacturing facility in China. The new facility incorporates a wide range of services including manufacturing, engineering, quality, sales, logistics, administration, and finance.It takes up a total of 48,595 square metres of land and 26,000 square metres of floor space.
BorgWarner’s new factory will manufacture drive motors, P2 motors, Belt Alternator Starter Systems, starters, alternators, and associated components as part of its attempts to meet the rising demand from the Chinese combustion, hybrid, and electric vehicle markets.
In addition to adding additional production lines, the new complex combines the previous Remy factory with surrounding manufacturing facilities. The new facility will produce drive motors, P2 motors, and other EV and HEV components domestically for the first time in addition to its initial capacity.
A joint research venture with Tesla, the Chinese manufacturer BYD declared that it would “open its technology and goods to the whole world” by sharing the manufacturing parts for electric vehicles (EVs) with competitors and the rest of the industry.
The choice was taken as a result of declining EV sales in China. Since EV subsidies have suppressed demand, the national government has implemented new policies to eliminate them. Sales and production in the nation have also been disrupted by the coronavirus pandemic.
- SAIC-GM-Wuling Automobile Co.
- Guangxi Automobile Group Co.
- Mitsubishi Electric
THIS REPORT WILL ANSWER FOLLOWING QUESTIONS
- What is the average cost per China EV Components Market right now and how will it change in next 5-6 years?
- Average cost to set up a China EV Components Market in US, Europe and China?
- How many China EV Components Market are manufactured per annum globally? Who are the sub-component suppliers in different regions?
- What is happening in the overall public, globally?
- Cost breakup of a China EV Components Market and key vendor selection criteria
- Where is the China EV Components Market manufactured? What is the average margin per equipment?
- Market share of China EV Components Market manufacturers and their upcoming products
- The most important planned China EV Components Market in next 2 years
- Details on network of major China EV Components Market and pricing plans
- Cost advantage for OEMs who manufacture China EV Components Market in-house
- 5 key predictions for next 5 years in China EV Components Market
- Average B-2-B China EV Components Market price in all segments
- Latest trends in China EV Components Market, by every market segment
- The market size (both volume and value) of China EV Components Market in 2022-2027 and every year in between?
- Global production breakup of China EV Components Market, by suppliers and their OEM relationship